Bitcoin, alongside the rest of the market, had a highly beneficial week driven by the hype and the actual approval of spot Ethereum ETFs in the United States.
The weekly scale shows that UNI, PEPE, LDO, and ETH are among the leaders in terms of gains from the larger-cap alts.
BTC’s Weekly Surge
It was last Sunday when the primary cryptocurrency struggled to remain above $66,000 and slipped beneath that level on a few occasions. Monday started on a similar note but its end was nothing short than spectacular.
Amid reports that the US SEC might approve eight spot Ethereum ETFs that week, BTC skyrocketed by over five grand and neared $72,000 for the first time in six weeks. Nevertheless, the asset failed to maintain its run and started losing value in the following days.
The worst price drop came just hours before the US securities regulator indeed greenlighted those financial products on Thursday and BTC decreased to $66,400. Yet, it bounced off and soared to $69,000 by Friday.
The weekend has gone quite calmly but bitcoin has managed to defend the $69,000 level. Its market cap stands close to $1.370 trillion, while its dominance over the alts is at 50.3%.
PEPE’s Week
Somewhat expected, the news mentioned above impacted Ethereum’s native token a lot. ETH went on a roll and shot up from $3,100 to over $3,900, which became its highest price tag since the start of April. The second-largest crypto also went on a volatile ride amid the SEC’s approval but now stands close to $3,800 after gaining 22% in the past week.
DOGE, LINK, and APT have also jumped impressively on a weekly scale, but Uniswap and PEPE lead the charts. UNI has skyrocketed by 44% and stands above $11, while PEPE painted several all-time highs this week.
In contrast, SOL, TRX, TON, and ADA are in the red on a weekly scale. Still, the total crypto market cap gained more than $200 billion within this timeframe and is now above $2.7 trillion.
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Cryptocurrency charts by TradingView.
